Bank of America Corp DE Reduces Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Bank of America Corp DE reduced its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 39.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,946 shares of the software maker's stock after selling 64,527 shares during the period. Bank of America Corp DE owned about 0.25% of Synaptics worth $7,704,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of Synaptics by 189.7% in the 3rd quarter. Barclays PLC now owns 81,330 shares of the software maker's stock valued at $6,309,000 after buying an additional 53,252 shares in the last quarter. KBC Group NV boosted its stake in Synaptics by 87.4% during the 4th quarter. KBC Group NV now owns 1,795 shares of the software maker's stock worth $137,000 after purchasing an additional 837 shares during the period. Retirement Systems of Alabama boosted its stake in Synaptics by 1.2% during the 4th quarter. Retirement Systems of Alabama now owns 61,208 shares of the software maker's stock worth $4,671,000 after purchasing an additional 727 shares during the period. Louisiana State Employees Retirement System boosted its stake in Synaptics by 1.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker's stock worth $847,000 after purchasing an additional 200 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Synaptics by 211.4% during the 4th quarter. Van ECK Associates Corp now owns 5,754 shares of the software maker's stock worth $439,000 after purchasing an additional 3,906 shares during the period. 99.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYNA has been the subject of a number of analyst reports. Rosenblatt Securities restated a "buy" rating and set a $105.00 price objective on shares of Synaptics in a research report on Thursday, February 27th. Mizuho cut their price target on shares of Synaptics from $90.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, March 24th. Finally, Needham & Company LLC assumed coverage on shares of Synaptics in a report on Friday, May 9th. They issued a "buy" rating and a $80.00 price target for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $93.75.

Synaptics Trading Down 1.0%

Shares of NASDAQ SYNA traded down $0.61 during midday trading on Friday, reaching $59.02. 41,669 shares of the stock were exchanged, compared to its average volume of 472,932. The stock has a 50 day moving average price of $56.81 and a 200-day moving average price of $68.83. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60. Synaptics Incorporated has a 52-week low of $41.80 and a 52-week high of $98.00. The company has a market capitalization of $2.27 billion, a P/E ratio of 13.94 and a beta of 1.67.

Synaptics (NASDAQ:SYNA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The software maker reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.05. The firm had revenue of $266.60 million for the quarter, compared to analysts' expectations of $265.03 million. Synaptics had a net margin of 16.73% and a return on equity of 1.61%. Synaptics's revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 earnings per share. Equities research analysts expect that Synaptics Incorporated will post 0.96 earnings per share for the current fiscal year.

Synaptics Company Profile

Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.